Default [Q] Looking for some advice....

I have an Verizon Motorola RAZR as a work phone and I need some advice.
I haven't messed with it at all since it's a corporate phone but it gets intermittently (actually usually) non-responsive (it literally takes 30 seconds to respond to a screen input, sometimes the screen won't turn on so I can answer the phone until AFTER is stops ringing, etc.) and I've had enough.

Some questions:
1. Is there a known root cause that results in this type of behavior and can it be fixed?
2. Can I root the phone without losing data?
3. By switching to cyogenmod ROM can these issues with lack-of-response be avoided (I understand that it can be loaded on in addition to the stock ROM)?
4. What is the best strategy add cyogenmod (or other ROM) if I chose to pursue this path?

This phone is mission critical so I wanted to check with someone with experience before I started messing with it... I have rooted and installed ROMs before but never on a Motorola phone.

thanks!